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March
10,2003
Headlines---
Classified Ads---Jobs Wanted-Sales Managers
Venserve/SaleStream
Capital----Alive and Well
Nevada
Attorney General Closes The Funding Tree
Edwin
C. Siegel, Ltd--advertisement-
Alexa Ranks Leasing
Association Web Sites
SBA Program Expands to Include Credit Unions
###
Denotes Press Release
Pictures from the Past----1998---Coston
“James E. Coston is chairman of Coston & Lichtman, a
Chicago and Florida-based national law firm which represent lessors, funding
sources, and brokers in all aspects of equipment leasing law. Coston has served as Illinois Regional Chair,
Legal Line editor, Legal committee Chair and Legal Workshop Chair, and
is a current member of UAEL’s Board of Directors.”
UAEL Newsline, 1998
--------------------------------------------------------------------------------------------
Classified Ads---Jobs Wanted—Sales Managers
Sales Manager: Seattle, WA
Senior level sales professional w/ (20) plus experience in
mid market financing & leasing. The last (8) plus years being self
employed in middle market brokerage. Email:markhenley@qwest.net
Sales Manager: Atlanta, GA
Professional. finance mgr. w/formal credit ed./ reg. vp/
secured/unsecured commercial loans/ direct end user network/equip. leasing/
structuring small,mid,big ticket transactions. 10+ years NE & SE.
Have vendor servicing w/ existing and active network of accounts will
bring with me. Email:AlanAustin2000@msn.com
Sales Manager: Atlanta, GA
30 years in transportation Finance with strong management/
sales background. Represented company on national & region markets.
Started two successful operations- produce profits and growth. Email:pml@mindspring.com
Sales Manager: ATLANTA, GA.
30+ Yrs exp. primarily in small ticket. All phases, from owning own company
to starting captive for major telecommunications company. Shirt sleeve,
personal hands on approach. email:ELITECRUISE@MSN.COM
full list: http://65.209.205.32/LeasingNews/JobPostings.htm
These ads are free. If
you have a colleague out of work, tell him about
our ads because we have found people jobs. We have testimonials.
We also list all the job sites on line for our industry.
Help Wanted ads are paid by the advertiser.
www.craigslist.org
(available in many cities now, use scroll feature)
www.insidevcjobs.com
Venture County, CA. Newspaper
www.positionfiller.com
Economic Events This Week
March 10
MONDAY
nada except a lot of crying
March 11
TUESDAY
ditto
March 12
WEDNESDAY
Balance of Trade: January
March 13
THURSDAY
Retail Sales: February
Sales of Leading Retailers: February
Weekly Jobless Claims
March 14
FRIDAY
Inventory-Sales Ratio: January
Producer Prices: February
Industrial Production: February
Capacity Utilization: February
-------------------------------------------------------------------------------------
Venserve/SaleStream Capital----Alive and Well
“Your news of our death is premature. There is no bankruptcy
filing. We are
alive and well!
“To update you, Warburg Pincus is selling it's interest in
SaleStream Capital
to Texas Equity Holdings (TEH, LLC) a company owned and operated
by
Lighthouse Investments. There has been a large injection
of capital, around
$3M I hear, to promote the vendor driven business model that
the company was
originally structured to support. There will be no more B2C
activity.
“I have been directed to hire an additional 5-8 salespeople
in the next 30
days to ramp things up. This will create a need for new office
space shortly
but we will be staying in the area. I will notify you when
this is official.
“The Venserv name, email and contact info was changed almost
a year ago to
SaleStream Capital. The new investors are currently redoing
the entire
website and it will re-appear in a format more to their liking.
As the
point man, I can be contacted by phone 949-768-4236 ext.
236, fax
949-450-0827 or email twatson@salestreamcapital.com.
“Please contact me at anytime and I will be glad to answer
any questions you
may have. Thanks.
“P.S. I did leave you a voice message on Wednesday.”
Tony Watson
Vice President Business Development
SaleStream Capital Corporation
Voice 949-768-4236 Ext. 236
Fax: 949-450-0827
(Sorry, didn’t get the voice mail. E-mail is the best way
to get to me, or
via the webs site, by e-mail or “Kit Menkin Live.” Most of
the voice
mail I get at Leasing News are “telemarketers,” so perhaps
I confused
you with one of them. I see my main problem in trying to
contact
Venserve rather than SaleStream capital. We wish you the
best
in your endeavors. Editor)
--------------------------------------------------------------------------------------------
ALERT:
THE FUNDING TREE aka: LEGACY
LEASING
Is CLOSED!! Seized
by the Nevada Attorney General's Office!
I worked for Legacy Leasing from August 1, 2002 - January
23, 2003. I walked out when I realized
they were never going to fund! I
felt ill for what I had done to unsuspecting people. They would give us a date to give to our clients then when that date
came and went, they would say "I never told you an exact date, but
it is only going to be one more month"!
If I can help in anyway, please feel free to contact me:
! Yes, you may use my name.
Melissa Nelson was in the office when it happened. I gave her your email and also ask if I could
give you hers. She said yes. She is calling the Nevada Attorney General's
Office to see what she can and cannot do.
Her email is:
If you need anything else, let me know.
I really want to help!! I
have contacted Rene as well and let her know everything I know.
I have an email on Kendra, Bruce and Eileen
----
Subject : Legacy Leasing/The Funding Tree
Name : Melissa Nelson
E-Mail :Melissa
Nelson
Website :
Message : I would like to talk to someone about Legacy Leasing.
I am a
former employee and have read the articles about it. I'd like to know
what I can do to help the people I've ended up hurting by
working there
and to see that this company doesn’t reopen somewhere else
to do the same
thing. Could you let
me know who to speak to?
Thank you,
Melissa
Leasing News has been following this story for almost two
years:
http://www.leasingnews.org/Conscious-Top%20Stories/fundingTree_stories.htm
--- --------------------------------------------------------------------------------
Webleasing---Vision Commerce
I noticed you have updated your e-lease section on the web
site.
Here is some updated information for Vision Commerce. It can also be used
in the "General Leasing Software listing".
http://www.leasingnews.org/elease.htm
Thank you in advance for including us in your informative
newsletter
and all your hard work at keeping the industry informed.
Linda Lundergan
Vision Commerce, Inc.
Company:
Vision Commerce, Inc.
web site is www.visioncommerce.com
CEO: Steve Lundergan
Employees: 13
Number of Clients/Users:
over 2700 users
500 Companies
45 Subscribers
Major Clients:
Hitachi Credit America
All Points Capital
Firerock Capital
EquiCapital
Thalman Financial Services
BSBLeasing/Procure Financial Services
Description of Services:
Vision Commerce delivers unparalleled
front-end e-commerce solutions to the Equipment Leasing and
Finance
Industries.
Vision Commerce provides a front-end solution for proposal
delivery,
processing credit applications, status reporting and documentation
via the
Internet. We offer a suite of technology solutions. Vision
Commerce delivers
its lease origination and marketing system through an Application
Service
Provider (ASP) model, hosted solution or as an in-house solution.
The ASP
offering allows us to provide rapid and economical solutions
to Subscribers.
Vision Commerce has all the technical capabilities to securely
support
thousands of simultaneous users processing quotes and applications
through
the Internet. Software enhancements are applied regularly
to the ASP
solution at no additional cost to Subscribers.
Vision provides typical origination, workflow, decisioning,
and
documentation capabilities. Our product is differentiated
from the rest by
its marketing and co-branding capabilities. Vision Commerce
hosts hundreds
of private-label or custom program leasing sites supporting
more than 2000
users. With Vision, our subscribers can quickly and economically
deploy
solutions that meet the individual requirements of vendors,
manufacturers,
distributors, brokers, funding sources, and partners. We
understand that
each relationship is different, and we have constructed our
product to adapt
to changing business rules.
Vision is a single solution that allows internal staff to
collaboratively originate, score, price, and document in
one integrated
platform.
Developed using the Microsoft .NET framework, Vision showcases
the
versatility of the latest Internet development tools. This
industry leading
technology is a secure and reliable solution now and a robust
foundation for
enhancements planned to extend support to the leasing and
finance
industries.
Recent Enhancements:
In February 2003, Vision Commerce, Inc. released its Vision
Framework. The new framework supports the ASP, Hosted and
In-House solutions
all with the same degree of flexibility, scalability and
configurability.
Linda Lundergan
Vision Commerce, Inc.
866-707-9929
636-669-1400
(Thank you. We will add this information.
The name of the section has been changed to Webleasing.
My good friend Tom Williams called to say he was
concerned about the name “eLease” as that was the name of
his website. Although we have had
this name for almost three years on our tool bar,
he was concerned that it could be misconstrued, so we changed
it.
When we started this section we had a San Jose State College
intern as one
of his projects contact all the web related leasing companies.
We got little
information. No one wanted to cooperate. So to receive an e-mail from
Linda Lundergan is very helpful. Thank you. Editor )
----------------------------------
We Get Letters---
Hollywood Enquirer??
Your Leasing News is starting to read more like The Hollywood
Enquirer.
The personal affairs, comments and concerns amid leasing
personnel and
companies, really does not make for interesting reading.
Nobody really
cares.
I would like to suggest you start an "Open Column"
with a separate link
where involved daily readers like myself do not have to be
subjected to the
daily dim-witted statements, childish finger pointing, frivolous
lawsuits
and the never-ending power struggle over who did, wrote,
or was the first to
say or do, whatever. These comments could be posted, updated
and replied to
in an "Instant Messaging" format. (Now that would
make some good bathroom
reading!)
As for the "front page format" - report the positive,
the changes, the
success stories and the news that actually has an effect
on the operations
of legitimate American leasing companies.
As for you and the job that you're doing... Quote: "Press
on. Nothing in the
world can take the place of persistence." - Ray A. Kroc
Evan Barker
Evan Barker <EBarker@AllianceFunds.com>
If you were on our up-grade program, you would just hit the
headline
and skip the stories you don't want to read.
And note we have made our “other news” into briefs, where
if you
are interested, you click on the headline and go to the original
story.
We also changed the concept with the “news briefs” and “sports
briefs.”
There are more pictures and graphs. There is also “Kit Menkin
Live.”
Plus you can direct access the website without opening your
browser.
So thank you for letting me give this plug.
And I can tell you if I didn't print Haas and Goodman criticism,
they would be talking about it at every conference that Leasing
News is "not fair and accurate." And they would
be correct, in
my opinion.
http://www.leasingnews.org/#bob
Not that we print everything, but I think if they had the
misconception about Bob Teichman, perhaps others did too---and it is best
to clear the air. They
had the right to be heard. Whether you wanted to listen,
that
was your choice as the reader. Skip the story if it is "not
important"
to you.
What you don't like, someone else may. For instance, did
you know
the most feedback I get are on "sports briefs?"
I don’t print them
because they are not about leasing.
You are also missing "Day in American History,"
now only available in the new
version. Except for the typo’s, almost 100% of the feedback
are on "sports" too
So, if you were on the “up-grade,” you can skip the stories
that do not
interest you. Editor
-----------------
Bright Spots---
There are some bright spots even in this economy. Mortgage
refinance is certainly one of them.
I received a 3 year fixed at 3.75% with a float after 3 years
at 250 over libor at 1st
Nationwide.
No points but about $2,000.00 in closing costs. It was a
convention loan with a 30 year amortization. I am saving about $400.00
per month in interest charges. 6 month Libor is about 1.31%
Best Regards,
Brian Carey
The CIT Group
6835 Almaden Road
San Jose, Ca. 95120
Phone: 408/997-2456
Fax: 408/927-8069
E-mail: Brian.Carey@CIT.com
(I bet you paid a point.
My son-in-law got a 4.1 five year
fixed and floats after five years with one point up front.
Saves him $850
from the last time he financed, and $1250 from when he originally
bought
the house two years and a half years ago. That is per month.
Editor)
--------------------------------------------------------------------------------------------
Lessors.com Complaint
“I’m mad as hell. I
was "invited" for $595.00, then when I missed the deadline I
went on the waiting list, got re-invited at $995.00! To tell you the truth they never really said what the conference
was about.”
Name With Held
2003 Lease Syndication Showcase
Matching Buyers With Sellers In The
Commercial & Municipal Syndication Markets
We received three complaints. The Lessors.com conference
in Atlanta is taking place today. We
hope to have a report from Allen Zeppenfeld, and perhaps
some pictures from Fred St. Laurent. We’ll try to give you a good report.
It was no publicity gimmick for the waiting list.
John Semon wanted to limit the attendance. (see his mission statement
below.)
He told us he did not like it being at 65 as he wanted it
smaller so people from the
“sell desk” could talk directly with those from the “buy
desk.” It was for
the syndication sector. Everyone
invited was to bring 100 printed copies of
their company. They
would be divided into groups. He
wanted to keep
it small.
He did expand the list and then had to create three general
sessions where
those attending could stand in front and speak fifteen minutes
about their company. It is about “buyers and sellers. “ He wanted everyone who
was attending to be a “player.”
This is lessors.com “mission” from their web site:
“Smaller is better...
“We keep our events small to ensure you have the opportunity
to meet everyone and everyone has the opportunity to meet you! Fewer than
half of the total number of industry professionals requesting admittance
to our events receive invitation, but our members always receive priority
registration access.
“Invitation Only Policy
“Traditionally hosted from the beautiful Ritz-Carlton, Buckhead
hotel in Atlanta, Lessors Network invitation only events have perfected
the art of networking hospitality, refined to embrace a standard that
today's senior business executives find particularly appealing. While
each event embodies an individual spirit and theme, they also reflect
the Lessors Network's signature style of elegance using a professionally
intimate conference culture. (Restricted attendance ensures enhanced networking
benefits for an exclusive group of invitees.)
“Whether you represent a company that leases equipment or
provides products and services to companies that do, the Lessors Network
can enhance your networks. Membership in the Lessors Network is available
for individuals rather than companies.”
The Lessors.com August conference is larger, but he also
limits the size there. While many
conferences may have “early bird” or longer periods to register,
he wants attendees who are serious. No golf. He does have a local
Atlanta social group, but this was “all work.”
By the way, John Semon postponed his third heart operation
until the day after the conference. He spoke about it as if it was a routine,
and joked about the stress in
putting on this conference. editor.
Here is a partial list of the participants:
http://www.lessors.com/Events-2003/Syndication/participants.html
--------------------------------------------------------------------------------------------
Hal Richters Has Passed Away
It is with great sadness that I must report the death of
Hal Richters, the
founder and former President of Accord Leasing Group, Covington, Ohio. Hal
was a personal friend and an excellent representative of
the leasing
industry.
Hal started Accord Leasing Group in 1991 in the basement
of his
house with very little knowledge of the industry. Hal was a tireless worker
with the highest integrity, and a person with a desire to
succeed. Over the
next ten years, these ingredients propelled him from the
basement of their
home, to their existing store front office with a staff of
over twenty
people-quite a success story.
Anyone who knew Hal realizes what a loss this
was to his family, and those in his second family at Accord
Leasing Group.
Fortunately, his partners Doug Richters (son), and Darryl
Sandri have worked
together in building the business and will carry on in Hal's
absence.
Hal will be missed but many of his ideas and visions will
be carried out in
their capable hands.
I know we all wish them the best under difficult
circumstances.
Sincerely,
Jerry Bishop, SVP
FirstBankRichmond, DBA
--------------------------------------------------------------------------------------------
--ADVERTISEMENT--
Edwin C. Siegel, Ltd
3400 Dundee Road, Suite 180
Northbrook, Il 60062
http://www.lease-management.com/
Are you drowning in the hassles of your lease portfolio?
Call Nancy Geary, CPA, CLP, Jay Dahl, CPA, CLP
or Shari Lipski, CLP at 1-800-826-7-70, visit our website
at http://www.lease-management.com/
or come visit us at:
NAELB—March 20-23rd-Oak
Brook, Illinois
EAEL---April 3rd-6th-Washington,DC
ELA---April 9th-10th,
Chicago, Illinois
UAEL---May 1st—4th,
Rancho Mirage, CA
At their website, you can not only subscribe to their accounting-business
newsletter designed for the leasing industry but get:
Business Tip
http://www.planningtips.com/Planning_Tips.asp?Co_ID=16822&Tip_ID=6802
Financial Tip
http://www.planningtips.com/Planning_Tips.asp?Co_ID=16822&Tip_ID=6803
onth
Tax Tip
Newsletter
http://www.npi-opus.com/web/newsletter.cfm?ord=91885
http://www.lease-management.com/
--ADVERTISEMENT---
--------------------------------------------------------------------------------------------
Alexa Ranks Leasing
Association Web Sites
|
3/6/03
|
2/11/03
|
WEBSITE NAME
|
|
59,625
|
57,762
|
www.aba.com American Bankers Association
|
|
63,262
|
61,776
|
www.leasingnews.org Leasing
News
|
|
74,064
|
73,495
|
www.monitordaily.com
Monitor Daily |
|
97,786
|
93,624
|
www.elaonline.com
Equipment Leasing Association
|
|
135,112
|
125,104
|
www.nacha.org The Electronic
Payments Association
|
|
246,559
|
254,127
|
www.leasingtoday.com
Leasing Today
|
|
352,882
|
358,127
|
www.us-banker.com
U.S.Banker |
|
357,020
|
341,070
|
www.cfa.com
Commercial Finance Association |
|
358,800
|
311,876
|
www.uael.org United Association
of Equipment Leasing
|
|
350,682
|
322,352
|
www.executivecaliber.ws
Executive Caliber-Jeffrey Taylor
|
|
402,917
|
341,056
|
www.naelb.org National Assoc.
of Equipment Leasing Brokers
|
|
427,185
|
706,894
|
|
|
525,377
|
NO
DATA
|
www.efj.com Equipment Financial Journal |
|
579,238
|
679,639
|
www.pblaw.com/newsletters/bln/
Business Leasing News |
|
699,797
|
605,575
|
www.leasefoundation.org
Equip. Leasing & Finance Foundation
|
|
1,014,620
|
928,023
|
www.clpfoundation.org
CLP Foundation
|
|
1,050,813
|
831,875
|
www.eael.org Eastern Association
of Equipment Leasing
|
|
1,094,027
|
1,315,615
|
www.aglf.org Association of Government
Leasing and Financing
|
|
1,320,150
|
1,290,921
|
www.nvla.org National Vehicle
Leasing Association
|
|
2,683,712
|
2,649,974
|
www.nationalfunding.org The National Funding Association |
|
3,428,336
|
1,839,282
|
www.iicl.org Institute of International Container Lessors |
|
No
Data
|
3,503,351
|
www.mael.org
Mid-America Association of Equipment Lessors
|
|
No
Data
|
3,827,903
|
www.leaselawyer.com Lease Lawyer |
|
No
Data
|
4,094,291
|
www.elessors.com eLessors
Networking Association
|
|
No
Data
|
NO
DATA
|
www.1stBusinessDay.com BizWiz Daily |
These comparison are compiled by Leasing News using Alexa and should
be viewed as “indicator” rather than actual count from the website itself.
The Alexa tool bar works on Explorer and Netscape ( not Opera or
other web browsers.) They are partnered with Google. You may download
their free tool bar.
http://pages.alexa.com/prod_serv/quicktour_new.html
To learn more about how
the rankings work:
http://pages.alexa.com/prod_serv/quicktour_new.html
### ###############################
#########################
SBA Program Expands
to Include Credit Unions
The Small Business Administration
expanded its lending program to allow greater access to capital for small
businesses. As many as 1,500 of America's more than 10,000 credit unions
are likely to join our network of lenders which represents a potential
increase of some 30 percent in the overall number of storefronts where
entrepreneurs can seek capital for their business.
Administrator of the
U.S. Small Business Administration, Hector V. Barreto said, "Building
on our existing network of lenders, we can reach more communities, a greater
number of entrepreneurs and a more diverse pool of prospective and existing
small businessmen and women. My first priority is to reach as many small
businesses as possible. Expanding the number of lending partners we participate
with is a good way to accomplish that."
As part of President
Bush's overall management agenda, agencies across the federal government
have been tasked with finding ways to better manage for results. Expanding
SBA's business loan program to include credit unions will help transform
the agency into a more responsive, customer-centric organization.
The SBA is committed
to serving small businessmen and women as an effective and efficient 21st
century national organization; including credit unions will help SBA achieve
that goal.
As Administrator Barreto
put it, "we are grateful for the tremendous contributions our lending
partners have made to bolstering and encouraging entrepreneurship. Since
1953 they have helped provide more than $175 billion dollars in financing
to make small business dreams a reality. As our network of lenders grows,
so does our ability to reach small businesses from rural to urban communities,
so that we can maximize our ability to help make the American dream come
true."
For more information
about all of the SBA's programs for small businesses, visit the SBA's
extensive website at www.sba.gov.
########## #####################################
News Briefs---
Blix 'hid smoking gun' from Britain and US
http://www.timesonline.co.uk/article/0,,3-605557,00.html
Buffett blasts the quality of America's executives
http://www.taipeitimes.com/News/worldbiz/archives/2003/03/10/197514
------------------------------------------------------------------------------------
Sports Briefs---
Emmitt could find Chiefs uniform is a fit
http://www.dfw.com/mld/dfw/sports/football/5353399.htm
Coles Talks Heat Up
http://www.washingtonpost.com/wp-dyn/articles/A2413-2003Mar9.html
NFL Draft Order
http://www.sportsnetwork.com/default.asp?c=dallasnews&page=nfl/stat/nfl-draft-order.htm
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www.leasingnews.org
Leasing News, Inc. 346 Mathew Street, Santa Clara, California 95050 Voice: 408-727-6464 Fax: 800-727-2026 kitmenkin@leasingnews.org 
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